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Started By
Message
Budget deficit falls at sharpest pace since WW2
Posted on 2/28/14 at 8:10 am
Posted on 2/28/14 at 8:10 am
quote:
The budget deficit dropped to the lowest level since 2008 last year, falling to $680B from $1.1T in 2012. The rate of the drop was the sharpest since the end of World War II.
As a proportion of GDP, the deficit was 4.1%, down from a peak of 10% during the depths of the Great Recession.
The fall was due to an increase in federal tax revenues amid economic growth and tax hikes, and to a fall in spending. A slowdown in health costs also helped.
I'll let you politards politicize this, but I am happy to see some progress.
LINK
This post was edited on 2/28/14 at 8:17 am
12
Posted on 2/28/14 at 8:12 am to RedStickBR
Thank you for the post, Mr. Carney.
Posted on 2/28/14 at 8:14 am to RedStickBR
Wow. That's awesome. The only way that would be meaningless is if you looked back to years prior and see that the debt was only about half what it is today and 2008 and beyond spending was inflated due to stimulus spending....
Posted on 2/28/14 at 8:14 am to RedStickBR
It's good.
It's the lingering result of the sequester, along with the GOP House refusing to let Obama continue to spend money (to the extent it can).
Problem is, there's land mines out there that will blow it up again (Obamacare).
It's the lingering result of the sequester, along with the GOP House refusing to let Obama continue to spend money (to the extent it can).
Problem is, there's land mines out there that will blow it up again (Obamacare).
Posted on 2/28/14 at 8:15 am to RedStickBR
Call me when we stop adding to the debt.
Posted on 2/28/14 at 8:17 am to C
quote:
That's awesome. The only way that would be meaningless is if you looked back to years prior and see that the debt was only about half what it is today and 2008 and beyond spending was inflated due to stimulus spending....
You're right and I agree. Still like the trend here. It's not "ideal" but it's "better."
Posted on 2/28/14 at 8:20 am to RedStickBR
it's been known this year and maybe next would be best, then deficits would start skyrocketing again. this timing is due to policies that have been in place a few years now.
10-year projections get worse and worse
10-year projections get worse and worse
Posted on 2/28/14 at 8:21 am to 90proofprofessional
That's certainly right, and we need to do something about it.
Posted on 2/28/14 at 8:21 am to RedStickBR
I too am glad to see deficit reduced but true debt reduction must come from a reduction in government spending. The government hasn't slowed down spending. They are just passing the bill along to tax payers in the form of increased taxes and higher premiums. We will see how constituents feel about the reduction in the deficit come November when they vote their pocket books. 
Posted on 2/28/14 at 8:24 am to RedStickBR
It's only a drop from previous increases. It would be like if I spend $30 at a restaurant every Friday, and then one Friday I spend $140. Then I keep spending over $100 every Friday. Then eventually I spend "only" $70 this most recent Friday.
Woohoo, look at all the money I'm saving by only spending $70. You know, I could have been spending $140!
Woohoo, look at all the money I'm saving by only spending $70. You know, I could have been spending $140!
Posted on 2/28/14 at 8:26 am to RedStickBR
Tea Party doing some work!
Posted on 2/28/14 at 8:28 am to PrimeTime Money
I don't believe that's lost on anyone (in this thread, at least). The chart in the link couldn't make that any more clear.
I'm simply saying we should, in Pavlovian fashion, positively reinforce the idiots in Washington from both parties to try and make further progress (much further progress).
I'm simply saying we should, in Pavlovian fashion, positively reinforce the idiots in Washington from both parties to try and make further progress (much further progress).
This post was edited on 2/28/14 at 8:29 am
Posted on 2/28/14 at 8:33 am to RedStickBR
quote:In accordance with projections.
but I am happy to see some progress.
If we continue with Obamanomics as planned, next year the deficit might even drop all the way to W's avg budget levels (a period in which we were fighting 2 wars). Yea!
. . . . Then the deficits relaunch toward trillion dollar levels as Obamanomics obligations kick in.
Posted on 2/28/14 at 8:35 am to RedStickBR
Pretty easy to fall fast when you hit the top of a damn mountain...
Posted on 2/28/14 at 8:35 am to RedStickBR
quote:
I don't believe that's lost on anyone (in this thread, at least). The chart in the link couldn't make that any more clear.
I'm simply saying we should, in Pavlovian fashion, positively reinforce the idiots in Washington from both parties to try and make further progress (much further progress).
Agree completely and I also agree that military spending can certainly be reduced while still maintaining superior intelligence and leading edge technology.
Posted on 2/28/14 at 8:36 am to NC_Tigah
Couldn't agree more. I believe Obamacare should be overhauled and spending should be reduced and optimized.
This post was edited on 2/28/14 at 8:36 am
Posted on 2/28/14 at 8:37 am to RedStickBR
quote:Progress entails change, and effort toward a goal. The "idiots in Washington from both parties" have done NOTHING toward that end. Now if (if) if the Senate turns red, perhaps we could see actual progress.
and make further progress
Posted on 2/28/14 at 8:40 am to C
quote:
Wow. That's awesome. The only way that would be meaningless is if you looked back to years prior and see that the debt was only about half what it is today and 2008 and beyond spending was inflated due to stimulus spending....
Posted on 2/28/14 at 8:40 am to NC_Tigah
I would agree in that both parties suck when it comes to fiscal responsibility, but that the Republican party is trending towards sucking less currently.
Posted on 2/28/14 at 9:05 am to RedStickBR
Great news!!
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